Risk Off in Outside Markets Pulls Down Livestock and Soybeans: Corn and Wheat Correct and Put in Weather Premium

A risk off day in the outside markets, including DOW, weighs on livestock and soybeans. Wheat put in weather premium and pulled corn higher in the process. Jim McCormick of AgMarket.Net has details.

A risk off day in the outside markets, including DOW, pulled down livestock and soybeans. Wheat put in weather premium and pulled corn higher. Jim McCormick of AgMarket.Net has details.

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Joe Kooima of Kooima Kooima Varilek says the gap lower opening in cattle futures Monday in response to the border reopening to Mexican imports was volatile. They anticipate more to come to price in the news, even after a $25 to $30 break in the futures recently.
Brian Grete with Commstock Investments says, “We’ve seen China come in and be a fairly active buyer over the past several weeks here of new crop U.S. soybeans. There was more talk of that on Friday. And so that gave us some price support.”
Scott Varilek with Kooima Kooima Varilek says the live cattle futures made new lows for the move Thursday before finding support and putting in key reversals.
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